HONG KONG—Shares of cash-strapped China Evergrande fell as much as 6 percent in early trade on Friday, paring gains of nearly 18 percent the previous day as time ticked by on an interest payment deadline for the country’s most indebted developer.
China Evergrande Shares Slide 6 Percent in Early Trade
September 24, 2021
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Dollar Hovers Above One-Week Low as Evergrande Questions Persist
September 24, 2021
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LONDON—The dollar hovered above a one-week low versus major peers on Friday, taking a breather after its biggest drop in almost a month overnight, as questions lingered about the fate of property developer China Evergrande Group. The yen fell to its weakest since mid-August as Treasury yields pushed to the highest since the start of…
Asian Stock Markets Jittery as China Evergrande Woes Sap Confidence
September 24, 2021
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Asian shares were on edge on Friday (Sept. 24) hurt by persistent uncertainty around the fate of debt-ridden China Evergrande, even as more risk appetite drove gains for Wall Street and U.S. benchmark Treasury yields. Hong Kong markets opened slightly down with its benchmark Hang Seng Index starting Friday’s trade at 24,487.24 dipping 0.1 percent….
European Shares Fall on Evergrande Fears but Hold Weekly Gains
September 24, 2021
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LONDON/HONG KONG—European shares slipped on Friday but held their gains for the week as uncertainty around the fate of debt-ridden China Evergrande weighed on investor sentiment. The regionwide STOXX 600 index slipped 0.78 percent after a three-day run of gains. Britain’s FTSE 100 and Germany’s also weakened. Still, European shares look set to end the…
Evergrande Collapse Expected to Be Contained: Australian PM
The collapse of Chinese property giant Evergrande will be contained before it will significantly affect the Australian economy, Prime Minister Scott Morrison said. “When it comes to Evergrande, this is principally an issue in China, and that addresses their financial stability,” Morrison told reporters in Washington D.C. ahead of the Quad Summit. Morrison discussed the…
Evergrande’s Major Shareholder Projects Over $1 Billion Loss
September 24, 2021
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Chinese Estates Holdings, the second-biggest shareholder of Evergrande, projected a loss of over $1 billion this year after selling out the entire stake of the debt-ridden developer. China Estates announced on Thursday that it recently reduced its stake in Evergrande to about 5.7 percent from nearly 6.5 percent. It was seeking shareholder approval to sell the remainder. …
Indonesia Finance Minister Warns of Ripple Effect from China’s Evergrande Debt Woes
September 24, 2021
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JAKARTA—Indonesian authorities are monitoring the financial market situation in China, finance minister Sri Mulyani Indrawati said on Thursday, and warned that property firm China Evergrande’s debt woes could affect the world’s economy. “We see a new risk to the financial system stability in China,” she told a news conference. “They are going through a situation…
Swiss Central Bank Tracking Evergrande Woes, Swiss Banks Play Down Exposure
September 23, 2021
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ZURICH—The Swiss National Bank is closely monitoring the situation at China’s Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns its debt problems could pose risks to China’s financial system. “It is wrong to be alarmist, but it is also wrong to dismiss it as a local small problem,” Jordan told journalists on…
Top Chinese Real Estate Companies’ Debt
Wuhan’s virology lab may have already been capable of creating bat coronaviruses in 2018. A newly leaked grant proposal shows the facility was planning to release genetically modified viruses into Chinese bat caves. A Chinese real estate company’s debt crisis continues, and it’s driving some over the edge. Some Evergrande investors have even attempted suicide….
With Gucci Bags and Dyson Appliances, Evergrande Wooed Retail Investors
SHANGHAI—Lured by the promise of yields approaching 12 percent, gifts such as Dyson air purifiers and Gucci bags, and the guarantee of China’s top-selling developer, tens of thousands of investors bought wealth management products through China Evergrande Group. Now, many fear they may never get their investments back after the cash-strapped property developer recently stopped…
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